Part 4/10:

Family businesses constitute a significant portion of Southeast Asia's economy, especially in Indonesia, where they account for nearly all enterprises. However, they face unique hurdles in maintaining continuity across generations. Statistics reveal that only about 13% of family firms survive into the third generation, and only 15% worldwide have formal management succession plans.

A major obstacle in Asia is cultural taboos surrounding conversations about leadership transitions. Discussing succession is often considered uncomfortable or taboo, which leads many companies to operate without formal plans. "In many cases, even a will is absent because it's deemed taboo," explains an executive. This unstructured approach jeopardizes future stability and growth.